Upbit, one of South Korea's leading cryptocurrency exchanges, announced that it will launch trading support for the new digital asset SynFutures (F) in KRW and USDT pairs.
Upbit Launches KRW and USDT Trading Support for SynFutures (F)
According to the exchange's statement, deposits and withdrawals via the Ethereum network will begin within 1 hour and 30 minutes from the announcement, and transaction support will begin at 16:00 on October 21.
Upbit emphasized that users should select the correct network before depositing assets. The F token will only be supported on the Ethereum (ERC-20) network, and caution should be exercised as transfers made from incorrect networks can take a long time to be refunded.
Additionally, temporary restrictions will be implemented to prevent price fluctuations at the opening of trading:
Buy orders will be restricted during the first 5 minutes after the start of trading,
During the same period, sell orders 10% below the previous closing price will be blocked,
Only limit orders will be available for 2 hours after the start of trading.
According to Upbit data, the price of SynFutures (F) is 13.06 KRW (approximately 0.00917 USDT) as of 2:00 PM on October 21.
SynFutures stands out as a decentralized derivatives exchange known for its automated market-making system called “Oyster AMM,” which operates entirely on-chain.
The platform offers futures pairs based on real-world assets (RWA) such as crude oil (WTI) and gold (Gold). Within the SynFutures ecosystem, the F token can be used for staking and governance purposes.
*This is not investment advice.
